trực tiếp bóng đá euro hôm nayFrom July 1, 2025, how many methods are there for VAT calculation in Vietnam?

From July 1, 2025, how many methods are there for VAT calculation in Vietnam?

Based on Article 10 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024(effective from July 1, 2025), there are two methods to calculate VAT as follows:

- credit-invoice method- Direct method.

What are regulations oncredit-invoice methodin Vietnam?

According to Article 11 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024, trực tiếp bóng đá euro hôm nay credit-invoice method is regulated as follows:

- trực tiếp bóng đá euro hôm nay VAT payable under trực tiếp bóng đá euro hôm nay credit-invoice method is trực tiếp bóng đá euro hôm nay output VAT minus trực tiếp bóng đá euro hôm nay creditable input VAT;- trực tiếp bóng đá euro hôm nay output VAT is trực tiếp bóng đá euro hôm nay total VAT on goods and services sold, as stated on trực tiếp bóng đá euro hôm nay value-added invoice.

trực tiếp bóng đá euro hôm nay VAT on goods and services sold, listed on trực tiếp bóng đá euro hôm nay value-added invoice, is calculated by trực tiếp bóng đá euro hôm nay taxable price of trực tiếp bóng đá euro hôm nay goods and services sold multiplied by trực tiếp bóng đá euro hôm nay VAT rate applicable to those goods and services.

In cases where trực tiếp bóng đá euro hôm nay invoice records trực tiếp bóng đá euro hôm nay payment price inclusive of VAT, trực tiếp bóng đá euro hôm nay output VAT is determined by subtracting trực tiếp bóng đá euro hôm nay taxable value as defined in point k clause 1 Article 7 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024;

- trực tiếp bóng đá euro hôm nay creditable input VAT is trực tiếp bóng đá euro hôm nay total VAT stated on trực tiếp bóng đá euro hôm nay value-added invoices of purchased goods and services, tax documents of imported goods, or tax documents for services purchased as specified in clauses 3, 4 Article 4 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024and meeting trực tiếp bóng đá euro hôm nay conditions prescribed in Article 14 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024.

trực tiếp bóng đá euro hôm nay credit-invoice method applies to business establishments adhering to full accounting, invoice, and document policies according to legal regulations on accounting, invoices, and documents, including:

- Business establishments with annual turnover from selling goods and providing services of 1 billion VND or more, excluding households and individuals engaged in production and business;- Business establishments voluntarily applying trực tiếp bóng đá euro hôm nay credit-invoice method, excluding households and individuals engaged in production and business;- Foreign organizations and individuals supplying goods and services for exploration and development activities in oil and gas fields, paying tax under trực tiếp bóng đá euro hôm nay credit-invoice method declared, credited, and paid on behalf by Vietnamese parties.

From July 1, 2025, how many methods are there for VAT calculation in Vietnam?(Image from trực tiếp bóng đá euro hôm nay Internet)

What are regulations ondirect method in Vietnam?

According to Article 12 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024, trực tiếp bóng đá euro hôm nay direct method is regulated as follows:

(1)trực tiếp bóng đá euro hôm nay VAT payable under trực tiếp bóng đá euro hôm nay direct method on added value is calculated by multiplying trực tiếp bóng đá euro hôm nay added value by trực tiếp bóng đá euro hôm nay VAT rate applied to trực tiếp bóng đá euro hôm nay activities of purchasing, selling, processing gold, silver, and gemstones.

trực tiếp bóng đá euro hôm nay added value for purchasing, selling, processing gold, silver, and gemstones is determined by subtracting trực tiếp bóng đá euro hôm nay input payment price of gold, silver, and gemstones from their output payment price.

If a business has activities involving buying, selling, and processing gold, silver, and gemstones, it must separately account for these to pay tax using trực tiếp bóng đá euro hôm nay direct method on added value.

(2)trực tiếp bóng đá euro hôm nay VAT payable under trực tiếp bóng đá euro hôm nay direct method on revenue is calculated by multiplying trực tiếp bóng đá euro hôm nay percentage rate by trực tiếp bóng đá euro hôm nay revenue, applicable as follows:

- Applicable entities include:

+ Enterprises, cooperatives, union cooperatives with annual revenue below trực tiếp bóng đá euro hôm nay 1 billion VND threshold, except for those voluntarily applying trực tiếp bóng đá euro hôm nay credit-invoice method as defined in clause 2 Article 11 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024;

+ Households and individuals in production and business, except as specified in(3)

+ Foreign organizations without a permanent establishment in Vietnam, non-resident individuals with revenue generated in Vietnam not adhering fully to accounting, invoice, and document policies, excluding foreign suppliers defined in clause 4 Article 4 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024;

+ Other organizations, except those paying tax by trực tiếp bóng đá euro hôm nay credit-invoice method as defined in clause 2 Article 11 of trực tiếp bóng đá euro hôm nayLaw on Value-Added Tax 2024;

+ trực tiếp bóng đá euro hôm nay percentage for VAT calculations is regulated as follows:

+ Distribution, supply of goods: 1%;

+ Services, construction without materials supply: 5%;

+ Production, transportation, services attached to goods, construction with materials supply: 3%;

+ Other business activities: 2%;

+ Revenue for VAT calculation is trực tiếp bóng đá euro hôm nay total sales price of goods and services recorded on trực tiếp bóng đá euro hôm nay sales invoice, including surcharges and extra fees that businesses are entitled to.

(3)Households and individuals in production and business not adhering to accounting, invoice, and document policies according to legal requirements shall pay VAT using trực tiếp bóng đá euro hôm nay presumptive tax method as regulated in trực tiếp bóng đá euro hôm nayLuật Quản trực tiếp bóng đá.